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HOUSTON and DENVER, July 22, 2019 (GLOBE NEWSWIRE) -- Today at the Unconventional Resources Technology Conference in Denver, MicroSeismic, Inc. (MSI), announced FracRx, a data analytics company focused solely on helping E&P companies, operating in unconventional basins, increase net present value (NPV) and return on investment (ROI).
FracRx is the formalization of MicroSeismic’s data analytics and synthesis platform, integrating multi-physics data to derive a prescriptive solution for improved Well Economics, Maximized Drainage Volume, Completion Optimization and Risk Mitigation. This solution has proven to help our customers increase their NPV and ROI.
“The last few years at MSI have been spent working to understand our customer’s challenges and to help them achieve their biggest goal, generating cash flow. We are able to help them achieve that by driving costs down and increasing volume drainage – via well spacing, well configuration, effectiveness of the frac, treatment order and treatment design,” said Peter Duncan, President and CEO, MicroSeismic. “FracRx accomplishes these goals, and more – and it only makes sense at this point for it to be promoted as a separate entity.”
MSI, the leading provider of microseismic monitoring, will continue to operate as a geophysical company that acquires and images microseismic data.
FracRx is a data analytics company that prescribes how to get the most ROI from your developing resource. We integrate multiple data types into our proprietary synthesis platform to derive a prescription for a more effective well completion and development of your resource.
About MicroSeismic, Inc.
Founded in 2003, MicroSeismic is the leading provider of microseismic data acquisition and event description utilizing surface, near-surface, and downhole arrays. The Company operates in 18 countries and holds over 35 patents. For more information about MicroSeismic, please visit www.microseismic.com.
FracRx is a data analytics company focused on Well Economics, Maximizing Drainage Volume, Completion Optimization and Risk Mitigation. Inputting multiple data types into our proprietary synthesis platform, we provide a description of the treated reservoir; a prediction of production, drainage volume and ROI; and ultimately a prescriptive solution for increasing NPV and ROI. FracRx is a MicroSeismic company. For more information about FracRx, please visit www.fracrx.com.